Luxembourg,
February 13, 2015 - ArcelorMittal (referred to as “ArcelorMittal” or the “Company”) (MT (New York,
Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world’s leading integrated steel and mining company, today announced results[1] for the three and twelve-month periods ended December 31, 2014.

Highlights:

Health
and safety performance remained stable in FY 2014 with annual LTIF rate of 0.85x

4Q
2014 EBITDA of $1.8 billion; notable improvements versus 4Q 2013 in Europe
(+36.6%) and ACIS (+173.6%) segments were more than offset by the negative
impact of iron ore prices on the Mining segment (-73.7%)[3] on an underlying
basis

FY
2014 net loss of $1.1 billion as compared to FY 2013 net loss of $2.5 billion.
Excluding China Oriental impairment ($0.6 billion), other impairments and other
non-recurring items, net income would have been positive in FY 2014

Net
debt lower at $15.8 billion as of December 31, 2014 as compared to $17.8
billion as of September 30, 2014 due largely to working capital release of $1.0
billion, asset disposal proceeds of $0.6 billion and forex impacts of $0.2
billion

Further
developed its automotive steel franchise including new capacity (Calvert,
VAMA) and new product launches

Net
debt declined to its lowest level since the ArcelorMittal merger which together
with lower average cost of debt reduced net interest expense by $0.3 billion

Outlook and guidance:

The Company
expects Group EBITDA to be within the range of $6.5 billion to $7 billion for
2015

Steel
segments: Overall, steel markets continue to grow, in particular for our high
value-added products; a forecast 4-5% increase in shipment volumes
(approximately half of which follows the Newcastle reline completion and full
year impact of the restart of BF#3 in Tubarao, Brazil) together with improved
cost performance are expected to offset the impact of lower transaction prices
and the impacts of translation

Mining
segment: Assuming current market conditions, in excess of one-third of the
impact of lower iron ore prices on revenues will be offset by improved cost
performance including the benefits of foreign exchange, energy and freight as
well as higher volumes

Additionally,
the Company expects net interest expense to decline to approximately $1.4
billion and capital expenditure to decline to approximately $3.4 billion in
2015

As a
result, at the bottom end of the guidance range the Company would expect to be
free cash flow positive. While net debt is expected to follow a normal seasonal
pattern, overall progress towards the medium term net debt target of $15
billion is anticipated during the course of 2015

“Stronger steel demand, particularly in our
core markets of Europe and the US, drove an 8.5% improvement in 2014 underlying
EBITDA, despite the lower iron-ore price. The business benefited from a
3% increase in steel shipments, an increase in marketable iron-ore shipments,
and the result of cost optimization and restructuring efforts. Net debt
reached $15.8 billion, the lowest level since the onset of the economic crisis,
demonstrating continued progress towards our medium term target of $15.0
billion. For 2015, although operating conditions remain tough we expect
steel markets to continue to improve, particularly for high value-added
products such as automotive, where ArcelorMittal is a world leader.”

Fourth quarter 2014 earnings analyst conference call

ArcelorMittal
management will host a conference call for members of the investment community
to discuss the three- and twelve-month periods ended December 31, 2014 on:

Date

US Eastern time

London

CET

Friday
February 13, 2015

9.30am

2.30pm

3.30pm

The
dial in numbers:

Location

Toll free dial in numbers

Local dial in numbers

Participant

UK
local:

0800
051 5931

+44
(0)203 364 5807

37787356#

USA
local:

+1
866 719 2729

+1
240 645 0345

37787356#

France:

0800
914780

+33
17071 2916

37787356#

Germany:

0800
965 6288

+49
692 7134 0801

37787356#

Spain:

90
099 4930

+34
911 143436

37787356#

Luxembourg:

800
26908

+352
27 86 05 07

37787356#

A
replay of the conference call will be available for one week by dialing:

Number

Language

Access code

+49
(0) 1805 2043 089

English

446907#

The
conference call will include a brief question and answer session with senior
management. The presentation will be available via a live video webcast on http://corporate.arcelormittal.com.

Forward-Looking Statements

This document may contain forward-looking
information and statements about ArcelorMittal and its subsidiaries. These
statements include financial projections and estimates and their underlying assumptions,
statements regarding plans, objectives and expectations with respect to future
operations, products and services, and statements regarding future performance.
Forward-looking statements may be identified by the words “believe,” “expect,”
“anticipate,” “target” or similar expressions. Although ArcelorMittal’s
management believes that the expectations reflected in such forward-looking
statements are reasonable, investors and holders of ArcelorMittal’s securities
are cautioned that forward-looking information and statements are subject to
numerous risks and uncertainties, many of which are difficult to predict and
generally beyond the control of ArcelorMittal, that could cause actual results
and developments to differ materially and adversely from those expressed in, or
implied or projected by, the forward-looking information and statements. These
risks and uncertainties include those discussed or identified in the filings
with the Luxembourg Stock Market Authority for the Financial Markets (
Commission
de Surveillance du Secteur Financier
) and the United States Securities and
Exchange Commission (the “SEC”) made or to be made by ArcelorMittal, including
ArcelorMittal’s Annual Report on Form 20-F for the year ended December 31, 2013
filed with the SEC and with respect to Items 3, 4, 5, 6 and 18 of such Annual
Report on Form 20-F, such Items have been retrospectively adjusted to reflect
the retrospective application of changes in its segment information, which can
be found in the current report on Form 6-K filed with the SEC on August 5,
2014. ArcelorMittal undertakes no obligation to publicly update its
forward-looking statements, whether as a result of new information, future
events, or otherwise.

About
ArcelorMittal

ArcelorMittal
is the world's leading steel and mining company, with a presence in more than
60 countries and an industrial footprint in over 20 countries. Guided by a
philosophy to produce safe, sustainable steel, we are the leading supplier of
quality steel in the major global steel markets including automotive,
construction, household appliances and packaging, with world-class research and
development and outstanding distribution networks.

Through
our core values of sustainability, quality and leadership, we operate
responsibly with respect to the health, safety and wellbeing of our employees,
contractors and the communities in which we operate.

For
us, steel is the fabric of life, as it is at the heart of the modern world from
railways to cars and washing machines. We are actively researching and
producing steel-based technologies and solutions that make many of the products
and components we use in our everyday lives more energy-efficient.

We
are one of the world’s largest producers of iron ore and metallurgical coal and
our mining business is an essential part of our growth strategy. With a
geographically diversified portfolio of iron ore and coal assets,
we are strategically positioned to serve our network of steel plants and the
external global market. While our steel operations are important customers, our
supply to the external market is increasing as we grow.

In full year 2014, ArcelorMittal had revenues
of $79.3 billion and crude steel production of 93.1 million tonnes, while own
iron ore production reached 63.9 million tonnes.

ArcelorMittal
is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT),
Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid
and Valencia (MTS).

Health and safety - Own personnel and
contractors lost time injury frequency rate

Health
and safety performance, based on own personnel figures and contractors lost
time injury frequency (LTIF) rate, remained stable at 0.85x for the year 2014
(“12M 2014”) as compared to 0.85x for the year 2013 (“12M 2013”) with
improvements within the Mining and ACIS segments, offset by deterioration in
the Brazil and NAFTA segments.

Health
and safety performance declined to 0.89x in the fourth quarter of 2014 (“4Q
2014”) as compared to 0.78x in the third quarter of 2014 (“3Q 2014”) and 0.75x
for the fourth quarter of 2013 (“4Q 2013”). During 4Q 2014, improvement in the
performance of the ACIS and European segment relative to 3Q 2014 was offset by
deterioration in the performance of the other segments.

The
Company’s effort to improve the Group’s Health and Safety record continues and
remains focused on both further reducing the rate of severe injuries and
preventing fatalities.

Own personnel and contractors - Frequency
rate

Lost time injury frequency rate

4Q 14

3Q 14

4Q 13

12M 14

12M 13

Mining

0.75

0.29

0.66

0.56

0.63

NAFTA

1.42

1.03

0.97

1.13

1.09

Brazil

1.14

0.98

0.44

0.89

0.71

Europe

0.90

1.00

1.06

1.09

1.11

ACIS

0.47

0.52

0.47

0.49

0.60

Total
Steel

0.92

0.87

0.79

0.91

0.91

Total
(Steel and Mining)

0.89

0.78

0.75

0.85

0.85

Key corporate responsibility highlights for
4Q 2014:

The ArcelorMittal 2014 Corporate Responsibility report was ranked
within the top 10 by three rankings including those of the World Business
Council for Sustainable Development and Transparency International.

In addition to its Global Corporate Responsibility report
published in 2Q 2014, 19 business units published local corporate
responsibility reports in 2014 as part of increased communication and
engagement with local, national and global stakeholders.

The Company was included in the FTSE4Good index in 2014.
ArcelorMittal is proud to have been a member of the FTSE4Good Index since 2007
and continuously uses the series as a reference standard.

On December 5, 2014, ArcelorMittal hosted its annual volunteer day
as part of the Group’s employee engagement programme.

ArcelorMittal continues to support international Ebola relief
efforts, both through actions in Liberia and through the Ebola private sector
mobilization group which ArcelorMittal continues to chair.

Analysis
of results for the twelve months ended December 31, 2014 versus results for the
twelve months ended December 31, 2013

Total steel shipments
for 12M 2014 were 3.0% higher at 85.1 million metric tonnes as compared with
82.6 million metric tonnes for 12M 2013.

In recent years, the Company’s maintenance
practices have enabled an increase in the useful lives of plant and equipment.
As a result of this development, the Company has determined that it was appropriate
to extend the useful lives resulting in a lower charge to the income statement.
The full detailed review of useful lives of the assets was completed in the
fourth quarter of 2014. Accordingly, depreciation of $3.9 billion for 12M 2014
was lower as compared to $4.7 billion for 12M 2013.

Impairment charges for 12M 2014 were $264
million as compared to $444
million for 12M 2013.
Impairment charges for 12M 2014 included $114 million primarily related to the idling
of the steel shop and rolling facilities of Indiana Harbor Long carbon operations
in the US (NAFTA); $63 million related to the write-down of the Volcan iron ore
mine in Mexico (Mining); and $57 million related to the closure of mill C in
Rodange, Luxembourg (Europe). Impairment charges for 12M 2013 included $181 million
related to the Thabazimbi mine in South Africa (ACIS) following the transfer of
the operating and financial risks of the asset to Kumba as part of an iron ore
supply agreement with Sishen; and $101 million and $61 million for the costs
associated with the discontinued iron ore projects in Senegal[4]
and Mauritania, respectively (Mining).

Restructuring
charges for 12M 2014 were nil.
Restructuring charges for 12M 2013 were $552
million, primarily related to the announced industrial and social plan for the
finishing facilities at Liege Belgium, and the long term idling of
the Florange liquid phase (including voluntary separation scheme costs, site
rehabilitation/safeguarding costs, and take or pay obligations).

Operating income for 12M 2014 was $3.0
billion as compared with operating income of $1.2 billion for 12M 2013.
Operating results for 12M 2014 were negatively impacted by $90 million
following the settlement of US antitrust litigation (NAFTA) and a $76 million
provision related to onerous annual tin plate contracts at Weirton in the US
(NAFTA), offset by the positive impact from the $79 million gain on disposal of
Kuzbass coal mines in Russia (Mining).

Operating results for 12M 2013 were positively
impacted by a $47 million fair valuation gain relating to the acquisition of an
additional ownership interest in DJ Galvanizing in Canada (NAFTA) and by $92
million of “Dynamic Delta Hedge” (DDH) income (Europe). The DDH income recorded
in 1Q 2013 was the final instalment of such income. This gain on the unwinding
of a currency hedge related to raw materials purchases was initially recorded
in equity in 4Q 2008 and as of 1Q 2013 had been fully recorded in the income
statement.

Loss
from investments in associates, joint ventures and other investments in 12M
2014 was $172 million, as compared to a loss of $442 million in 12M 2013. Loss from
investments in associates, joint ventures and other investments in 12M 2014 was due primarily to a $621
million impairment loss on China Oriental following a revision of business
assumptions, partially offset by a $193 million gain from the sale of Gallatin
and improved performance of European investees and the share of profits of
Calvert operations.
Loss
from investments
in associates,
joint ventures and other investments during 12M 2013 was negatively impacted by a $200
million impairment loss on China Oriental, by a $111 million impairment charge
relating to the sale of the Company’s 50% interest in Kiswire ArcelorMittal
Ltd to the joint venture partner Kiswire (South Korea), a $111 million
impairment charge for Coal of Africa (South Africa), a payment of contingent
consideration related to the Gonvarri Brasil acquisition in 2008 and a $57
million loss related to the partial disposal of Erdemir, partly offset by $45
million income from the exercise of Hunan Valin put options.

Net
interest expense (including interest expense and interest income) was lower at
$1.5 billion for 12M 2014, as compared to $1.8 billion for 12M 2013,
attributable to lower average debt and cost of debt, following repayment of
bonds in 2Q 2013 (€1.5 billion and $1.2 billion) and convertible bonds in 2Q
2014 (€1.25 billion and $800 million).

Foreign
exchange and other net financing costs were higher at $1.9 billion for 12M 2014
as compared to costs of $1.3 billion for 12M 2013. Foreign exchange and other
net financing costs for 12M 2014 include foreign exchange losses of $620
million as compared to $248 million for 12M 2013 primarily due to the 12%
appreciation of the USD against the Euro. This foreign exchange loss is
largely non-cash and primarily relates to the impact of the USD appreciation on
Euro denominated deferred tax assets. In addition, costs for 12M 2014 include
expenses related to the termination of the Senegal greenfield project[4], non-cash gains and
losses on convertible bonds and hedging instruments that matured during the
period as well as charges related to the federal tax amnesty plan in Brazil
linked with the Siderbras case[5].

ArcelorMittal
recorded an income tax expense of $454 million for 12M 2014, as compared to an
income tax expense of $215 million for 12M 2013. The 12M 2014 income tax
expense was primarily impacted by improved results in certain jurisdictions.
The 12M 2013 income tax expense includes the settlement of two tax amnesty
programs in Brazil[6].

Non-controlling interests for 12M 2014
represents a charge of $112 million, as compared to a gain of $30 million for
12M 2013. Non-controlling interests charges for 12M 2014 primarily relate to
minority shareholders’ share of net income recorded in ArcelorMittal Mines
Canada and Belgo Bekaert Arames in Brazil. The 12M 2013 gain was primarily driven by the
minority share of losses at ArcelorMittal South Africa, offset in part by the
minority share of net income in ArcelorMittal Mines Canada.

ArcelorMittal’s net loss for 12M 2014 was
$1.1 billion, or $0.61 loss per share, as compared to net loss for 12M 2013 of
$2.5 billion, or $1.46 loss per share.

Analysis of results for 4Q 2014 versus 3Q 2014 and 4Q 2013

Total
steel shipments for 4Q 2014 were 21.2 million metric tonnes as compared with
21.5 million metric tonnes for 3Q 2014 and 20.5 million metric tonnes for 4Q
2013.

Depreciation was higher at $982 million for
4Q 2014 as compared to $946 million for 3Q 2014 and significantly lower than
$1,263 million for 4Q 2013, following increases in the
useful lives of plant and equipment (as discussed above).

Impairment charges for 4Q 2014 of $264
million included $114 million primarily related to the idling of the steel shop
and rolling facilities of Indiana Harbor Long carbon operations in the US
(NAFTA); $63 million related to write-down of the Volcan iron ore mine in
Mexico (Mining); and $57 million related to the closure of mill C in Rodange,
Luxembourg (Europe). Impairment charges for 3Q 2014 were nil.
Impairment charges for
4Q 2013 were $304 million including $181 million related to the Thabazimbi mine
in South Africa (ACIS) following the transfer of the operating and financial
risks of the asset to Kumba as part of an iron ore agreement with Sishen; $61
million for the costs associated with the discontinued iron ore project in
Mauritania (Mining).

Restructuring charges for 4Q 2014 and 3Q 2014
were nil.
Restructuring
charges for 4Q 2013 totalled $379 million, primarily related to the announced
industrial and social plan for the finishing facilities at Liege Belgium.

Operating income for 4Q 2014 was $569
million, as compared to operating income of $959 million for 3Q 2014 and
operating loss of $36 million for 4Q 2013. Operating results for 4Q 2014 were
negatively impacted by a $76 million provision related to onerous annual tin
plate contracts at Weirton in the US (NAFTA), offset by the positive impact
from the $79 million gain on disposal of Kuzbass coal mines in Russia (Mining).

Loss from investments in associates, joint
ventures and other investments in 4Q 2014 was $380 million as compared to
income in 3Q 2014 of $54 million and loss of $453 million in 4Q 2013. Loss from
investments in associates, joint ventures and other investments in 4Q 2014 was negatively
impacted by a
$621
million impairment loss on China Oriental following a revision of business
assumptions,
partially
offset by a $193 million gain on sale of Gallatin as well as improved
performance of European investees and the share of profits of Calvert
operations. Loss
from investments
in associates,
joint ventures and other investments during 4Q 2013 was negatively impacted by
a
$200
million impairment loss on China Oriental, a $111 million impairment charge
relating to
the sale of the Company’s 50% interest in Kiswire ArcelorMittal Ltd to the
joint venture partner Kiswire (South Korea), a $111 million
impairment charge for Coal of Africa (South Africa) and a $57 million loss
related to the partial disposal of Erdemir.

Net
interest expense (including interest expense and interest income) in 4Q 2014
was lower at $322 million, as compared to $338 million for 3Q 2014 and $419
million for 4Q 2013. The decrease in 4Q 2014 compared to 3Q 2014 was primarily
due to savings incurred following the early redemption on October 30, 2014 of
the Company’s 9.0% Notes due February 15, 2015 ($750 million) and its
3.750% Notes due February 25, 2015 ($500 million) and a bond repayment (€360
million) on November 7, 2014.

Foreign exchange and other net financing
costs were $549 million for 4Q 2014 as compared to $657 million for 3Q 2014 and
$384 million for 4Q 2013. Foreign exchange and other net financing costs for 4Q
2014 include foreign exchange losses of $316 million as compared to a $315
million for 3Q 2014. This foreign exchange loss is largely non-cash and relates
to the impact of the USD appreciation on Euro denominated deferred tax assets. In
addition, 3Q 2014 includes $161 million of expenses related to a federal tax
amnesty plan in Brazil linked with the Siderbras case settled during the
quarter[5].

ArcelorMittal recorded income tax expense of
$258 million for 4Q 2014, as compared to an income tax benefit of $21 million
for 3Q 2014 and income tax expense of $24 million for 4Q 2013. The 4Q 2014 income
tax expense was impacted by utilization of deferred tax assets in certain
jurisdictions. During 3Q 2014, the Company recognized $133 million of deferred
tax assets for losses of previous years that were utilized in the payment of the tax a
mnesty in Brazil[7].
The 4Q 2013 income tax
expense includes the settlement of two tax amnesty programs in Brazil.[6]

Non-controlling interests for 4Q 2014
represented a charge of $15 million, as compared to a charge of $17 million for
3Q 2014 and a gain of $89 million for 4Q 2013. Non-controlling interests
charges for 4Q 2014 primarily related to minority shareholders’ share of net
income recorded in ArcelorMittal Mines Canada, Belgo Bekaert Arames in Brazil
and ArcelorMittal South Africa. Non-controlling interests charges for 3Q 2014
primarily related to minority shareholders’ share of net income recorded in ArcelorMittal
Mines Canada and Belgo Bekaert Arames in Brazil, partially offset by losses
generated by ArcelorMittal South Africa.

ArcelorMittal recorded
a net loss for 4Q 2014 of $955 million, or $0.53 loss per share, as compared to
net income of $22 million, or $0.01 earnings per share for 3Q 2014, and a net
loss of $1.2 billion, or $0.69 loss per share for 4Q 2013.

a) Due to the current
Ebola virus outbreak in West Africa, contractors working on the phase 2
expansion project declared force majeure. Prior to the force majeure event, the
plant was expected to begin production of sinter feed at the end of 2015. The
Company will issue a new timing forecast as soon as available. Budgeted capex
for phase 2 was $1.7 billion before the force majeure event; it will be
re-assessed once work recommences. ArcelorMittal remains fully committed to
Liberia. Phase 1 operations are continuing as normal at this time and to date
have not been affected by the Ebola situation in Liberia.

Analysis of
segment operations

Effective
January 1, 2014, ArcelorMittal implemented changes to its organizational
structure to give it a greater geographical focus. The principal benefits
of the changes are to reduce organizational complexity and layers; simplify
processes; capture regional synergies and take advantage of the scale effect
within the regions.

As a result, the analysis of segment operations
presented in this earnings release has been prepared reflecting the new
organizational structure. The changes are only related to the allocation
between the new reporting segments of NAFTA, Brazil (Brazil and neighboring
countries), Europe and ACIS. There are no changes to the Group total or to the
Mining segment for previous years.

The
NAFTA segment includes the Flat, Long and Tubular operations of USA, Canada and
Mexico. The Brazil segment includes the Flat operations of Brazil, and the Long
and Tubular operations of Brazil and its neighboring countries including
Argentina, Costa Rica, Trinidad and Tobago and Venezuela. The Europe segment
comprises the Flat, Long and Tubular operations of the European business, as
well as Distribution Solutions (AMDS). The ACIS division is largely unchanged
with the addition of some Tubular operations. The Mining segment remains
unchanged.

NAFTA

(USDm) unless otherwise shown

4Q 14

3Q 14

4Q 13

12M 14

12M 13

Sales

5,166

5,645

4,991

21,162

19,645

EBITDA

341

429

404

1,206

1,397

Depreciation

178

169

197

706

767

Impairments

114

-

-

114

-

Restructuring
charges

-

-

-

-

-

Operating
income

49

260

207

386

630

Crude
steel production (kt)

6,142

6,485

6,361

25,036

24,914

Steel
shipments (kt)

5,805

5,866

5,728

23,074

22,500

Average
steel selling price (US$/t)

824

853

825

843

829

NAFTA segment crude steel production
decreased by 5.3% to 6.1 million tonnes in 4Q 2014 as compared to 3Q 2014.

Steel shipments in 4Q 2014 decreased by 1.0%
to 5.8 million tonnes as compared to 3Q 2014, primarily driven by a 6.6%
decline in
long product steel shipment volumes offset in part by a 0.2% increase in flat
product steel shipment volumes.

Sales in 4Q 2014 decreased by 8.5% to $5.2
billion as compared to 3Q 2014, due to lower steel shipments as discussed
above, and lower average steel selling prices (-3.3%). Average steel selling
price for flat products and long products declined -3.9% and -2.6%,
respectively.

EBITDA in 4Q 2014 decreased to $341 million
as compared to $429
million in 3Q 2014. EBITDA for 4Q 2014 was negatively impacted by a $76 million
provision related to onerous annual tin plate contract at Weirton, in the US. On an underlying
basis,
EBITDA in 4Q 2014 was 2.7% lower as compared to 3Q 2014. The decline in average
steel selling prices was largely offset by lower raw material costs and decreased
maintenance expenses.

EBITDA in 4Q 2014 was down 15.6% as compared
to 4Q 2013.
On an underlying basis,
EBITDA in 4Q 2014 was 3.1% higher as compared to 4Q 2013 primarily due to higher steel shipments
(+1.3%).

Operating income for 4Q 2014 was also
impacted by impairment charges of $114 million primarily related to the idling
of the steel shop and rolling facilities of Indiana Harbor Long carbon
operations in the US.

Brazil

(USDm) unless otherwise shown

4Q 14

3Q 14

4Q 13

12M 14

12M 13

Sales

2,543

2,707

2,537

10,037

10,148

EBITDA

546

460

497

1,845

1,895

Depreciation

99

111

171

457

691

Impairments

-

-

-

-

-

Restructuring
charges

-

-

-

-

-

Operating
income

447

349

326

1,388

1,204

Crude
steel production (kt)

2,758

2,971

2,450

10,524

9,987

Steel
shipments (kt)

2,895

2,844

2,344

10,376

9,797

Average
steel selling price (US$/t)

792

866

987

867

940

Brazil segment crude steel
production decreased by 7.2% to 2.8 million tonnes in 4Q 2014 as compared to 3Q
2014 due primarily to seasonally lower domestic demand as well as
weather related interruptions.

Steel
shipments in 4Q 2014 increased by 1.8% to 2.9 million tonnes as compared to 3Q
2014, primarily on account of increased slab exports from Brazil post the restart
of blast furnace No.3 at Tubarão in 3Q 2014.

Sales in 4Q 2014 decreased by 6.1% to $2.5
billion as compared to 3Q 2014, primarily due to the impact of the weaker
Brazilian real and a negative mix effect due to higher exports of slabs.
Domestic selling prices were largely stable.

EBITDA in 4Q 2014 increased by 18.7% to $546
million as compared to $460
million in 3Q 2014 primarily on account of higher steel shipment volumes, lower
costs and higher profitability in our tubular operations in Venezuela.

EBITDA in 4Q 2014 was higher as compared to
4Q 2013 by 9.9%. EBITDA increased primarily on account of additional slab
volumes and lower costs offset in part by lower long product shipments (-6%).

Europe

(USDm) unless otherwise shown

4Q 14

3Q 14

4Q 13

12M 14

12M 13

Sales

9,023

9,689

10,030

39,552

40,507

EBITDA

557

523

408

2,304

1,621

Depreciation

343

357

538

1,510

2,003

Impairments

57

-

62

57

86

Restructuring
charges

-

-

353

-

517

Operating
income / (loss)

157

166

(545)

737

(985)

Crude
steel production (kt)

10,742

10,837

10,451

43,419

41,923

Steel
shipments (kt)

9,610

9,829

9,474

39,639

38,269

Average
steel selling price (US$/t)

721

760

805

773

804

Europe segment crude steel production was 10.7
million tonnes in 4Q 2014, stable as compared to 3Q 2014.

Steel shipments in 4Q 2014 decreased by 2.2%
to 9.6 million tonnes as compared to 3Q 2014. Flat and long product steel
shipment volumes decreased by 2.9% and 1.6%, respectively, due to minor
production issues; export volumes were reduced in order to maintain domestic
shipment levels.

Sales in 4Q 2014 decreased by 6.9% to $9.0
billion as compared to 3Q 2014, primarily due to lower average steel selling
prices (-5.1%), as well as lower steel shipments as discussed above. Average steel selling
prices for flat and long products decreased by 5.3% and 6.2%, respectively.

EBITDA in 4Q 2014 increased by 6.6% to $557
million as compared to $523 million in 3Q 2014 on account of lower costs. EBITDA in 4Q 2014 was
36.6% higher than 4Q 2013, reflecting improved market conditions, lower costs
and the benefits of cost optimization efforts.

Operating performance for 4Q 2014 was impacted
by impairment charges of $57 million, related to the closure of mill C in
Rodange, Luxembourg. Operating loss for 4Q 2013 was impacted by impairment
charges of $62 million, primarily related to the sale of the Company’s 50%
stake in the joint venture Kiswire ArcelorMittal Ltd in South Korea and certain
other entities of its Steel Cord business in the US, Europe and Asia. In addition,
operating performance for 4Q 2013 was impacted by restructuring charges of $353
million, primarily related to the announced industrial and social plan for the
finishing facilities at Liege Belgium.

ACIS

(USDm) unless otherwise shown

4Q 14

3Q 14

4Q 13

12M 14

12M 13

Sales

1,967

1,994

1,975

8,268

8,419

EBITDA

147

208

54

620

314

Depreciation

135

130

142

525

542

Impairments

-

-

181

-

196

Restructuring
charges

-

-

24

-

33

Operating
income / (loss)

12

78

(293)

95

(457)

Crude
steel production (kt)

3,519

3,616

3,726

14,148

14,362

Steel
shipments (kt)

3,111

3,229

3,009

12,833

12,422

Average
steel selling price (US$/t)

550

594

593

576

613

ACIS segment crude steel production in 4Q
2014 decreased by 2.7% to 3.5 million tonnes as compared to 3Q 2014. Production
was lower in Ukraine on account of electricity shortage, offset in part by
higher production in South Africa following the reline of the Newcastle blast furnace.

Steel shipments in 4Q 2014 decreased by 3.7%
to 3.1 million metric tonnes as compared to 3Q 2014, primarily due to
seasonally lower demand in South Africa and CIS.

Sales in 4Q 2014 decreased by 1.4% to $2.0
billion as compared to 3Q 2014. This decline was primarily due to lower steel
shipment volumes, lower average steel selling prices (-7.4%), and were offset
in part by higher non-steel revenues. Average steel selling prices were particularly
lower in Ukraine and Kazakhstan.

EBITDA in 4Q 2014 decreased to $147 million
as compared to $208 million in 3Q 2014, due to weaker performance of CIS
countries (volume and price) offset in part by improved South African
performance primarily on account of lower costs.

EBITDA in 4Q 2014 was 173.6% higher as
compared to 4Q 2013 due to higher steel shipments (+3.4%), improved operations
and lower costs primarily in the CIS, offset in part by lower average steel
selling prices (-7.3%).

Operating
income for 4Q 2013 was impacted by impairment charges of $181 million related
to the Thabazimbi mine in South Africa following the transfer of the operating
and financial risks of the asset to Kumba as part of a new iron ore supply
agreement with Sishen.

Mining

4Q 14

3Q 14

4Q 13

12M 14

12M 13

Sales

1,059

1,272

1,621

4,970

5,766

EBITDA

232

278

582

1,331

1,980

Depreciation

219

170

197

703

642

Impairments

63

-

61

63

162

Restructuring
charges

-

-

-

-

-

Operating
income / (loss)

(50)

108

324

565

1,176

Own
iron ore production
(a)
(Mt)

16.7

15.8

15.4

63.9

58.4

Iron
ore shipped externally and internally at market price(b)
(Mt)

9.9

10.0

10.3

39.8

35.1

Iron
ore shipment - cost plus basis (Mt)

6.4

7.1

6.3

23.9

24.4

Own
coal production(a)
(Mt)

1.7

1.8

2.0

7.0

8.1

Coal
shipped externally and internally at market price(b)
(Mt)

0.8

1.1

1.1

3.9

4.8

Coal
shipment - cost plus basis (Mt)

0.9

0.8

0.8

3.3

2.9

(a)
Own iron ore and coal production not including strategic long-term contracts
(b)
Iron ore and coal shipments of market-priced based materials include the
Company’s own mines, and share of production at other mines, and exclude
supplies under strategic long-term contracts

Own iron ore production (not including
supplies under strategic long-term contracts) in 4Q 2014 increased by 5.8% to
16.7 million metric tonnes as compared to 3Q 2014. This reflects seasonal
improvements in Liberia and strong performance in Canada, offset in part by
lower Brazilian and Ukrainian production. Own iron ore production (not
including supplies under strategic long-term contracts) was 8.8% higher than 4Q
2013, primarily due to higher production from Canadian mining operations
following their expansion and subsequent efficiency gains.

Market
price shipments in 4Q 2014 decreased by 0.9% to 9.9 million metric tonnes as
compared to 3Q 2014, primarily driven by lower shipments from Mexico and Brazil
offset in part by improved shipments in Liberia. Shipments at market price in
4Q 2014 were 3.4% lower than 4Q 2013 primarily due to lower shipments in
Mexico, Ukraine and Brazil offset in part by increased shipments in Canada
following the successful commissioning and ramp-up of the expanded
concentrator.

Own coal production (not including supplies
under strategic long-term contracts) in 4Q 2014 decreased 3.6% to 1.7 million
metric tonnes as compared to 3Q 2014, and 14.5% lower than 4Q 2013 primarily
due to lower US and Russian production.

EBITDA
in 4Q 2014 decreased by 16.4% to $232 million as compared to $278 million in 3Q
2014. EBITDA for 4Q 2014 was positively impacted by $79 million gain on
disposal of Kuzbass coal mines in Russia. Underlying EBITDA in 4Q 2014
decreased by 44.8% as compared to 3Q 2014, primarily due to lower seaborne
iron ore market prices (17.7%) and lower market price shipment volumes, offset
in part by improved cost performance.

Operating
loss for 4Q 2014 was impacted by a $63 million impairment charge related to
costs associated with the write-down
of the Volcan iron ore mine in Mexico.

Operating
performance for 4Q 2013 was impacted by a $61 million impairment charge related
to costs associated with the discontinued iron ore project in Mauritania.

Liquidity and
Capital Resources

For 4Q 2014, net cash provided by operating
activities was $2,292 million, as compared to net cash provided by operating
activities of $501 million in 3Q 2014.

Cash provided by operating activities in 4Q
2014 included a $994 million release of operating working capital as compared
to a $576 million investment of operating working capital in 3Q 2014. Rotation
days during 4Q 2014 reduced to 51 days as compared to 54 days in 3Q 2014
primarily on account of a decrease in trade account receivables.

Net cash provided by other operating
activities in 4Q 2014 was $889 million (including the reversal of non-cash
items related to unrealized forex losses, income tax accruals, impairment on
China Oriental partially offset by reversals of gains from disposal of Gallatin
and Kuzbass). This compares to net cash provided by other operating activities
in 3Q 2014 of $251 million (including reversals of non-cash items related to
the Siderbras tax amnesty settlement). Net cash provided by other operating
activities in 4Q 2013 was $1.3 billion and includes, among others, the reversal of
non-cash impairments and the amnesty program in Brazil.

Net cash used in
investing activities during 4Q 2014 was $492 million as compared to net cash
used in investing activities during 3Q 2014 of $888 million. Capital
expenditure increased to $1,067 million in 4Q 2014 as compared to $949 million
in 3Q 2014. Capital expenditure increased to $3,665 million in 12M 2014 as
compared to $3,452 million in 12M 2013.

Cash flow from other
investing activities in 4Q 2014 of $575 million primarily included the cash
inflow from the divesture of Gallatin for $389 million and a $108 million
inflow from the exercise of the 3rd
put option on Hunan Valin shares[8]
and proceeds from the
sale of tangible assets. Cash flow from other investing activities in 3Q 2014
of $61 million primarily included cash inflow from the divesture of Circuit Foil.
Other investing activities in 4Q 2013 of $274 million include sale proceeds of
$267 million from the sale of a 6.66% stake in Erdemir.

Net cash used in financing
activities for 4Q 2014 was $1,926 million as compared to net cash provided by
financing activities of $294 million for 3Q 2014. Net cash used in financing
activities for 4Q 2014 primarily included debt repayment totalling $1.25
billion of the
9.0% Notes due February 15, 2015 ($750 million) and 3.750% Notes due February
25, 2015 ($500 million) prior to their scheduled maturity and €360 million bond
repayment. Net cash provided by financing activities for 3Q 2014 primarily
included inflow related to issuance of $805 million (€600 million) 2.875
per cent Notes due July 6, 2020 under the €3 billion wholesale Euro Medium Term
Notes Programme offset by $136 million (€100 million) bond repayment.

During 4Q
2014, the Company paid $15 million in dividends to minority shareholders. This
compares to $381 million of dividends for 3Q 2014 (including $328 million paid
to ArcelorMittal shareholders), and $14 million in 4Q 2013.

At December 31, 2014,
the Company’s cash and cash equivalents (including restricted cash and
short-term investments) amounted to $4.0 billion as compared to $4.2 billion at
September 30, 2014. Gross debt of $19.9 billion at December 31, 2014,
decreased by $2.1 billion from $21.9 billion at September 30, 2014 following
repayment of bonds and positive impact of foreign exchange. As of December 31,
2014, net debt[9]
was $15.8 billion as
compared with $17.8 billion at September 30, 2014, primarily driven by
increased cash flow from operations (in particular due to the release of
operating working capital of $1.0 billion), asset disposal proceeds ($0.6 billion)[10]
and forex effects
($0.2 billion).

The Company had liquidity
of
$10.0
billion at December 31, 2014, consisting of cash and cash equivalents
(including restricted cash and short-term investments) of $4.0 billion and $6.0
billion of available credit lines. On December 31, 2014, the average debt
maturity was 6.3 years.

3-year $3 billion management gains program

During
the investor day held on March 15, 2013, the Company announced a new management
gains improvement target of $3 billion by the end of 2015. Action plans and
detailed targets have been set at the various business units and progress will
be monitored and reported upon in future quarters. The Group is targeting cost
savings related to reliability, fuel rate, yield and productivity with two
thirds of costs targeted being variable costs.

An
additional $1.0 billion of annualized management gains have been achieved
during 2014, bringing the cumulative 2 year total as of December 31, 2014, to
$2.1 billion. The Company remains on track to achieve its $3 billion target of
annualized cost improvement by the end of 2015.

Annual
dividend maintained at $0.20/share for 2015

ArcelorMittal’s
Board of Directors proposes to maintain the annual dividend payment at
$0.20/share for 2015. Subject to shareholder approval at the next annual
general meeting on May 5, 2015, this dividend would be paid in June 2015.

On
January 23, 2015, ArcelorMittal announced that it will idle its Indiana Harbor
Long Carbon (IHLC) facility beginning with the electric arc furnace on March 1,
2015, followed by the rolling mill operation in Q2 2015, pending customer
requirements.

On
January 19, 2015, ArcelorMittal announced the sale of its interest in the
Kuzbass coal mines in the Kemerovo region of Siberia, Russia, to Russia’s
National Fuel Company (NTK). The assets include the coal mines of Berezovskaya
and Pervomaskaya, which together produce 700,000 tonnes of coal a year. The
Company’s Ukrainian steel operations now source coking coal from
ArcelorMittal’s mines in Kazakhstan. This transaction closed on December 31,
2014.

On
January 14, 2015, ArcelorMittal announced the issuance of €750 million 3.125%
Notes due January 14, 2022. The Notes were issued under ArcelorMittal’s €3
billion wholesale Euro Medium Term Notes Programme.

On
November 25, 2014, ArcelorMittal and the Algerian state-owned companies Sider
and Ferphos Group signed an agreement whereby the Company’s interest in the
Tebessa mines in Ouenza and Boukhadra will be diluted from 70% to 49%. The
transaction was completed on January 10, 2015.

On
November 14, 2014, ArcelorMittal signed a memorandum of understanding with the
Banque et Caisse d’Epargne de l’Etat (“BCEE”) whereby the Company and BCEE
irrevocably agreed to sell and buy, respectively, the Liberté property
(formerly the headquarters of the Company) in Luxembourg city. Accordingly, the
property was classified as held for sale at December 31, 2014. The disposal was
completed on January 23, 2015.

Outlook and guidance

Based
on the current economic outlook, ArcelorMittal expects global apparent steel
consumption (“ASC”) to increase by approximately +1.5% to +2.0% in 2015.
ArcelorMittal expects the pick-up in European manufacturing activity to
continue and support ASC growth of approximately +1.5% to +2.5% in 2015 (versus
a growth of 3.4% in 2014). Driven by robust underlying steel demand and
significant restocking, ASC in the US grew by 10% in 2014. Whilst underlying
demand continues to expand, due to the absence of a further inventory build in
2015, ASC in the US is expected to be similar, or up to 1% below 2014 levels.
Following a 6% decline in 2014, Brazil ASC is expected to grow by +1 to +2% in
2015. In China, we see signs of stabilization due to the government’s targeted
stimulus, and expect steel demand growth in the range of +1.5% to +2.5% for
2015. While there remain risks to the global demand picture, given
ArcelorMittal’s specific geographical and end market exposures, the Company
expects its steel shipments to increase further in 2015 as compared to 2014.

The
Company expects Group EBITDA to be within the range of $6.5 billion to $7
billion for 2015.

Overall,
steel markets continue to grow, in particular for our high value-added
products; a forecast 4-5% increase in shipment volumes (approximately half of
which follows the Newcastle reline completion and full year impact of the
restart of BF#3 in Tubarao, Brazil) together with improved cost performance are
expected to offset the impact of lower transaction prices and the impacts of
translation.

Assuming
current market conditions, in excess of one-third of the impact of lower iron
ore prices on mining revenues will be offset by improved cost performance
including the benefits of foreign exchange, energy and freight as well as
higher volumes.

Additionally,
the Company expects net interest expense to decline to approximately $1.4
billion and Capital expenditure to decline to approximately $3.4 billion in
2015.

As
a result, at the bottom end of the guidance range the Company would expect to
be free cash flow.

While
net debt is expected to follow a normal seasonal pattern, overall progress
towards the medium term net debt target of $15 billion is anticipated during
the course of 2015.

a) The volume variance
indicates the sales value gain/loss through selling a higher/lower volume
compared to the reference period, valued at reference period contribution
(selling price–variable cost). The mix variance indicates sales value gain/loss
through selling different proportions of mix (product, choice, customer, market
including domestic/export), compared to the reference period contribution.
b) The price-cost
variance is a combination of the selling price and cost variance. The selling
price variance indicates the sales value gain/loss through selling at a
higher/lower price compared to the reference period after adjustment for mix,
valued with the current period volumes sold. The cost variance indicates
increase/decrease in cost (after adjustment for mix, one-time items and others)
compared to the reference period cost. Cost variance includes the gain/loss
through consumptions of input materials at a higher price/lower price, movement
in fixed cost, changes in valuation of inventory due to movement in capacity utilization
etc.
c) “Other” includes a $76
million provision related to onerous annual tin plate contracts at Weirton in
the US (NAFTA) and foreign exchange offset by the positive impact from the $79
million gain on disposal of Kuzbass coal mines in Russia (Mining)

Appendix 6: Terms and definitions

Unless
indicated otherwise, or the context otherwise requires, references in this
earnings release report to the following terms have the meanings set out next
to them below:

LTIF:
Lost time injury frequency rate equals lost time injuries per 1,000,000 worked
hours, based on own personnel and contractors.

Net
debt: long-term debt, plus short term debt, less cash and cash equivalents,
restricted cash and short-term investments (including those held as part of
assets/liabilities held for sale).

Market
priced tonnes: represent amounts of iron ore and coal from ArcelorMittal mines
that could be sold to third parties on the open market. Market priced tonnes
that are not sold to third parties are transferred from the Mining segment to
the Company’s steel producing segments and reported at the prevailing market
price. Shipments of raw materials that do not constitute market priced tonnes
are transferred internally and reported on a cost-plus basis.

Foreign
exchange and other net financing costs: include foreign currency swaps, bank
fees, interest on pensions, impairments of financial instruments and
revaluation of derivative instruments, and other charges that cannot be
directly linked to operating results.

Mining
segment sales: i) “External sales”: mined product sold to third parties at
market price; ii) “Market-priced tonnes”: internal sales of mined product to
ArcelorMittal facilities and reported at prevailing market prices; iii)
“Cost-plus tonnes” - internal sales of mined product to ArcelorMittal
facilities on a cost-plus basis. The determinant of whether internal sales are
reported at market price or cost-plus is whether the raw material could
practically be sold to third parties (i.e. there is a potential market for the
product and logistics exist to access that market).

Rotation
days: days of accounts receivable plus days of inventory minus days of accounts
payable. Days of accounts payable and inventory are a function of cost of goods
sold of the quarter on an annualized basis. Days of accounts receivable are a
function of sales of the quarter on an annualized basis.

Own
iron ore production: Includes total of all finished production of fines,
concentrate, pellets and lumps (excludes share of production and strategic long-term contracts).

On-going
projects: Refer to projects for which construction has begun (excluding various
projects that are under development), even if such projects have been placed on
hold pending improved operating conditions.

Shipments
information at the Group level was previously based on a simple aggregation,
eliminating intra-segment shipments and excluding shipments of the Distribution
Solutions segment. The new presentation of shipments information
eliminates both inter- and intra–segment shipments which are primarily between
Flat/Long plants and Tubular plants and continues to exclude the shipments of
Distribution Solutions.

Liquidity
includes back-up lines for the commercial paper program.

[1]The financial
information in this press release has been prepared consistently with
International Financial Reporting Standards (“IFRS”) as issued by the
International Accounting Standards Board (“IASB”). While the interim financial
information included in this announcement has been prepared in accordance with
IFRS applicable to interim periods, this announcement does not contain
sufficient information to constitute an interim financial report as defined in
International Accounting Standards 34, “Interim Financial Reporting”. The
numbers in this press release have not been audited. The financial information
and certain other information presented in a number of tables in this press
release have been rounded to the nearest whole number or the nearest decimal.
Therefore, the sum of the numbers in a column may not conform exactly to the
total figure given for that column. In addition, certain percentages presented
in the tables in this press release reflect calculations based upon the
underlying information prior to rounding and, accordingly, may not conform
exactly to the percentages that would be derived if the relevant calculations
were based upon the rounded numbers. This press release also includes certain
non-GAAP financial measures.[2]EBITDA in FY 2014 of
$7,237 million includes the negative impact of $90 million from the settlement
of US antitrust litigation and a $76 million provision related to onerous
annual tin plate contracts at Weirton in the US, offset by the positive impact
from the $79 million gain on disposal of Kuzbass coal mines in Russia; EBITDA
in FY 2013 of $6,888 million included the positive impact of a $47 million fair
valuation gain relating to the acquisition of an additional ownership interest
in DJ Galvanizing in Canada and $92 million of DDH income. For comparative purposes,
underlying EBITDA for FY 2014 is $7,324 million as compared to underlying EBITDA
of $6,749 million in FY 2013.[3]EBITDA in 4Q 2014 of
$1,815 million was negatively impacted by a $76 million provision related to
onerous annual tin plate contracts at Weirton in the US, offset by the positive
impact from the $79 million gain on disposal of Kuzbass coal mines in Russia.[4]In 3Q 2013
ArcelorMittal impaired the entire amount of the investment that it had made up
to September 30, 2013 in connection with a 2007 agreement with the State of
Senegal regarding a mining and infrastructure project, as it viewed project
implementation to be improbable in light of an ongoing arbitration proceeding.
The parties have since agreed to settle the dispute and on December 12, 2014,
the arbitral tribunal issued a procedural order formally closing the arbitration.[5]ArcelorMittal Brasil
S.A. (as a successor of Companhia Siderurgica Tubarao) was party to a legal
dispute against Siderbras (an extinguished holding company held by the
Government of Brazil) related to financial debt issued in 1992. In July 2014,
the judge in charge requested to replace the guarantee, which was securing the
litigation, with cash so that an appeal of the case could proceed.
ArcelorMittal Brasil S.A. entered into a federal amnesty program with the
Brazilian tax authorities to settle the debt with Siderbras (application made
in August 2014). The payment under the program is $161 million (original debt
$259 million including interest and penalties) and recorded as a financial
expense. Of this amount, $116 million was paid by way of set-off of tax losses
and the remaining balance paid in cash. This tax amnesty program entered into
by the Company with the Brazilian tax authorities is only in relation to the
Siderbras matter and does not have any effect or otherwise impact the Company’s
other outstanding disputes with the Brazilian tax authorities, which have been
previously disclosed.[6]During the fourth
quarter of 2013, the Company settled two amnesty programs in Brazil, for a
total amount of $302 million. Of the total, $222 million was recorded as income
tax expense and $80 million as interest and penalties in other financing
charges. Subsequently, the
Company paid $240 million by way of tax losses and during the year 2014, the
remaining balance was paid in cash.[7]The Company recorded
a total of $133 million of deferred tax assets for losses of previous
years in the framework of Federal Amnesty programmes in Brazil (including $82
million from the Siderbras case and $51 million in relation to the existing
amnesty debts signed during 4Q 2013 which are now allowed to be partially
offset with tax losses).[8]Following the sale of
a 5% stake to Valin Group as a result of the exercise of the third put option
on February 8, 2014, the Company’s interest in Hunan Valin decreased from 20%
to 15%. The Company exercised the fourth and final instalment on August 6,
2014. The Company received cash from the third installment of $108 million in
the fourth quarter of 2014 and expects cash from the fourth installment of $107
million in 1H 2015.[9]As at December 31,
2014 and September 30, 2014 net debt included $0.1 billion relating to
distribution centers in Europe held for sale. [10]During the fourth
quarter of 2014, the Company generated cash proceeds totalling $0.6 billion
from the sale of its 50% interests in Gallatin Steel Company
("Gallatin") to Nucor Corporation for $389 million, proceeds from the
exercise of the third put option on February 8, 2014 for the Company’s interest
in Hunan Valin from 20% to 15% to Valin Group for $108 million, and proceeds
from the sale of various tangible assets. [11]Gallatin’s carrying
amount was classified as held for sale as of September 30, 2014. Assets and
liabilities held for sale as of September 30, 2014 and December 31, 2014 also
included assets and liabilities held for sale related to distribution centers
in Europe, and the amount as of December 31, 2014 also included the Liberté
building disposal.

The cauldron will be made from ten types of steel including hot roll, Galvalume®, cold-roll enamelling and tubular, and will weigh around 14 tonnes. The steel is proudly manufactured by more than 5,000 employees of ArcelorMittal Dofasco in Hamilton. A second cauldron will also be produced as a legacy for the City of Hamilton.

Announcing the news on November 14 at a media event in the company’s main office, ArcelorMittal Dofasco was also named a partner and official supplier of the Games.

"ArcelorMittal Dofasco steel will used be to create this ultimate symbol of the Games, which will showcase athletic excellence and national pride, while creating a lasting legacy for host communities and the province of Ontario," said Sean Donnelly, president and chief executive officer, ArcelorMittal Dofasco. "The cauldron will represent Canada and the many nations and communities coming together to transform tomorrow through sport."

Hundreds of millions of households across the Americas are expected to watch as the cauldron is lit for the first time on July 10, to officially open the Pan Am Games. It will be lit a second time on August 7 to welcome the best Parapan athletes in the region to the Games. The lit cauldron will also open and close daily television broadcasts.

"A cauldron is one of the most visible symbols at an international Games. It expresses the unique nature and pride of the host city and host country, while providing an arresting image that captures the spirit of the athletes competing," explained Saäd Rafi, chief executive officer of the TORONTO 2015 Pan Am/Parapan Am Games organising committee (TO2015).

"We're pleased to welcome ArcelorMittal Dofasco to the TORONTO 2015 Games family. Their long-standing history in Hamilton, innovative work and strong sense of community make them an ideal partner for our Games," Mr Rafi added.

"Congratulations to both ArcelorMittal Dofasco and TO2015 on this partnership, which will provide the Games cauldron–one of the most recognised symbols of these important Games," said the Honourable Bal Gosal, Minister of State (Sport). "Our Government is pleased to see ArcelorMittal Dofasco supporting the 2015 Pan and Parapan American Games, as the private sector has an important role to play in Canadian sport," he added.

The 2015 Pan Am / Parapan Am Games are the first major international Games to be hosted in Ontario since the British Empire Games hosted in Hamilton in 1930.

The scale of the Ebola virus disease outbreak in West Africa is unprecedented. The need for a coordinated and massive global response has been identified and international institutions, organisations, governments, non-governmental organisations, and the private sector are mobilising as part of these efforts. In August 2014, ArcelorMittal initiated the forming of the “Ebola private sector mobilisation group” (EPSMG), a coalition of more than 80 companies to align private sector capability with the international Ebola response. Initially launched as a platform for dialogue amongst major mining companies operating in the affected countries, EPSMG now includes companies operating in a broad range of sectors, as well as 40 civil society/government bodies. ArcelorMittal continues to chair the group.

London, 22 May 2014 - ArcelorMittal is proud to announce it has won ‘Deal of the Year’, ‘Lifetime Achievement’ and ‘Industry Leader’ at this year’s Platts Global Metals Awards. The annual awards, which recognise excellence and accomplishments in the global metals industry, were presented in London on 21 May.

ArcelorMittal won the deal of the year category for its acquisition of ThyssenKrupp Steel USA, in a joint venture with Nippon Steel & Sumitomo Metal Corporation (NSSMC). The complex transaction - which completed in February this year - was one of the biggest in the steel industry for years, resulting in ArcelorMittal and NSSMC owning the flagship steel finishing plant AM/NS Calvert in Alabama, USA.

Accepting the award on behalf of ArcelorMittal, Bill Steers, general manager, Americas communications and corporate responsibility, highlighted the importance of this milestone deal for the company:

"It is gratifying to receive recognition from Platts Global Metal awards, highlighting the successful completion of this deal for ArcelorMittal. Along with NSSMC we are now the owners of the most modern steel finishing facility in the world, which will allow us to meet rising demand for steels in the automotive, energy and other important NAFTA markets.”

Greg Ludkovsky, vice president for global research and development at ArcelorMittal, took home the prestigious lifetime achievement award, for his unique contribution over the past four decades to innovation in the steel industry. Accepting the award, he spoke of his passion for his chosen profession: “I am very honoured to have been awarded this recognition from Platts. I like to tell people to ‘find a job you like - and you will not be working for a single day in your life’ – this is how I feel about my work, innovating to create and design new steels for the world”.

Speaking about Greg, Lou Schorsch, CEO of ArcelorMittal Americas and Group Management Board member responsible for strategy, technology, R&D, global automotive and commercial co-ordination, said: “Even decades ago, Greg was recognised as an outstanding R&D scientist and manager bringing steel applications to our customers. Today he leads the R&D function at ArcelorMittal with operations on five continents and activities in almost every product category. Despite the scope of these responsibilities Greg continues to be an incredibly fertile source of innovative ideas and solutions, particularly as our customers set ever higher targets for our product. Greg’s leadership is ultimately responsible for breakthrough products like our proprietary door ring – used in the Honda SUV MDX”.

The third award of the night recognised ArcelorMittal’s leadership in the steel industry. With the steel industry having changed beyond recognition in the last 30 years as a result of extensive restructuring and consolidation, the judges awarded ArcelorMittal for its status as the only truly global steelmaker, its leadership in developing new products, its approach to corporate responsibility and the strength of its brand.

The black-tie gala was held in Plaisterers’ Hall, London and attracted more than 200 metal leaders from around the world, with around 30 companies reaching the final stages of the awards.

ArcelorMittal is the world’s leading steel and mining company. Guided by a philosophy to produce safe, sustainable steel, it is the leading supplier of quality steel products in all major markets including automotive, construction, household appliances and packaging. ArcelorMittal is present in more than 60 countries and has an industrial footprint in over 20 countries.